Limit of PIX on the weekend: how does it work?

PIX is a new feature that arrived in Brazil and currently accounts for approximately 70% of all transactions conducted through a bank. Therefore, it's easy to understand that certain rules were created for it.

Among them is the establishment of a PIX usage limit, which is important to know to know how much you can transfer using this method.

Therefore, in this article, we'll explain how the PIX weekend limit works and how to make this change. Read on to find out.

How does PIX work?

PIX is an instant payments platform developed by the Central Bank of Brazil that enables money transfers between individuals, businesses, and financial institutions quickly, easily, and securely.

One of the great advantages is that it is available 24 hours a day, 7 days a week, the system works in real time and has no costs for the end user.

To use PIX, you must register a PIX key with your financial institution, which can be your CPF (Brazilian taxpayer ID), CNPJ (Brazilian corporate taxpayer ID), cell phone number, or email address. When sending money, simply enter the PIX key of the recipient or company and the amount to be transferred.

The transaction is completed instantly and the money is available in the beneficiary's account immediately.

Due to its great success, the system has added other features, such as QR code payments, which can be made using the cell phone camera, and scheduling future payments.

Does PIX work the same way every day?

One of the great advantages of using PIX is that you can make transactions any day of the week without any problems. This means you can use PIX no matter what day it is.

Check below for details on how PIX works on weekends and holidays.

How does PIX work on weekends?

PIX doesn't operate according to bank opening hours. Therefore, unlike transfers via TED or DOC, for example, PIX operates normally on weekends.

This way, you can make transfers between institutions without any problems and know that the money will be immediately available in the account to which it was transferred.

How does PIX work on holidays?

PIX operates on holidays in the same way as on other days of the week. It works the same way. You can make all your transactions without any hassle, knowing the money will be sent to your account.

The proposal, from the beginning, is that PIX will work whenever a person (individual or legal entity) needs to make a transaction, whether a transfer or payment by reading a QR Code.

How does PIX work at night?

Here's the big question about PIX. Initially, there were no limits on nighttime payments. But due to various issues related to fraud and robberies, the Central Bank imposed a limit on these hours.

Between 8 PM and 6 AM the next day, there is a transfer limit of R$1,000. This can be done in a single transfer or with multiple transfers, but once this limit is reached, a PIX transfer can only be made after 6 AM the next day.

You can configure your account to set the restriction time to be from 10pm to 6am.

What is the transfer limit via PIX?

Currently, following the new Central Bank resolutions, there is no limit for making a transfer via PIX. You can make transfers from R$ 0.01 to as much as you need, as long as the time is respected and your account allows it.

However, it is possible to set a daily PIX limit. Some banks may even include a pre-configured daily PIX limit in the account package.

Therefore, if necessary, the customer can configure limits for the daytime period and customize the nighttime period, which can start at 8 pm or 10 pm.

How do I set the PIX limit?

Customers can set new PIX payment and transfer limits through their banking institution's app.

It is worth remembering that the reduction in limits is immediate, but the increase requires authorization from the banking institution, which can take 24 to 48 hours to be completed.

To check your current limit and request a change, follow these simple steps:

• Open your bank app.
• Click on PIX.
• Access the “My Limits” section.
• The app will display your current daily limit.
• To change, select “Manage my limits”.
• “Customize PIX Limits” or “Change my limits”, depending on the bank.
• Confirm the operation.

Although there may be a difference when performing the transaction, the process is similar and you will be able to change your PIX limit.

Some banks still require additional confirmation via internet banking or ATM if there is a limit increase, so pay attention to the app's messages.

What is the purpose of setting the PIX limit?

Setting a daily PIX limit and nighttime hours is a security measure for your account. This is because many people have experienced problems related to fraud and robberies.

This makes it safer to use PIX transactions and be sure that your account will always be secure.

In addition to limiting the daily PIX amount, your bank can offer some options that will provide even more security:

• Precautionary freeze: If fraud is suspected, the bank may preventatively freeze funds for up to 72 hours. In this case, the recipient must be notified immediately.
• Violation notification: Transactions rejected due to suspected fraud must be recorded using the Pix key, the user's CPF/CNPJ, and the account number. This information will be shared with other institutions to strengthen fraud prevention.
• Expanded use of information for fraud prevention: information linked to Pix keys can be consulted to feed participants' fraud analysis mechanisms, even in processes that do not directly involve Pix.
• Additional data protection mechanisms: institutions must adopt security mechanisms equal to or superior to those adopted by the Central Bank and define procedures for cases of excessive Pix key queries or invalid keys.
• Increased accountability for institutions: Institutions that offer Pix to customers are responsible for fraud resulting from flaws in their risk management mechanisms and must use information linked to Pix keys to authorize or reject transactions.

With all these measures, it will be safer to use PIX, any day of the week and at any time.

Frequently Asked Questions

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